How about going to the likes of MABS and getting them to negotiate a reduced final payment. The banks write off lots of debt this way with BIG companies and take a fraction of what they are owed. Could try a Credit Union loan to to this as the Credit Unions are easier to deal with.
Also this outstanding loan could affect your credit rating in the future.
The banks always take people to court. They waste thousands every year getting judgements and instalment orders against debtors who can't pay. If a debtor tells a bank it can't pay they will ignore that fact and carry on regardless. You only have to go to a sitting of your local District Court and you will be amazed by the cases the banks take against asset less debtors.Why would they go after someone who has no money and no assets? Are there assets? It costs money for the Scottish Bank to go to court so if the person corresponded with them and told them they have nothing they will probably stop pursuing the person.
Now I may have a few figures slightly out, by this is the main summing up of his plight. I suggested to him to get out of Ireland as there is nothing here for the young anymore, but he wants to remain closer to his family, however the bank is doing there very best to push him out of Ireland.
That is crazy. It might be worth a complaint to the FSO. There is nothing to loose in doing so.They took the car back and sold it for €4,000, disgustingly well below the actual retail price. Despite him pleading with them to let him sell it. He had a family friend who owned a garage offering €8,000.
The bank can't make the parents pay. Even if they had millions they are under no moral or legal obligation to pay their child's debts.The bank obviously thinks there is money there somewhere (parents perhaps?) otherwise I don't believe they would be so aggressive as it's pointless.
Pity there wasn't some wise family/friends around to tell him that borrowing €20k for a car when you are earning €30k is crazy.He has tried to negotiate, but they wanted more than he could pay. For some reason they are like a dog with a bone, pushing all the way.
If he could get a job he would, simply put he would. He couldnt even pay them a €1,000.
The debt was 21k or there about, car was valued at €18,000 and interest around €3,000. He took the loan out when he was 19.
Absolutely.That is crazy. It might be worth a complaint to the FSO. There is nothing to loose in doing so.
I just have another few questions if I may!
He had hoped the whole case may have been dropped by the bank and thought no more of it, but to his horror the bank had been and gone to court behind his back. His defence was registered at the registras office and copies sent to the banks solicitors by himself.
!
The banks always take people to court. They waste thousands every year getting judgements and instalment orders against debtors who can't pay. If a debtor tells a bank it can't pay they will ignore that fact and carry on regardless. You only have to go to a sitting of your local District Court and you will be amazed by the cases the banks take against asset less debtors.
You should ask as many questions as you need to to find out the solutions to the predicament. That is what AAM is for.
Anyone on 100Euro a week being chased by a financial institution is just plain ridiculous and soul destroying.
What do you mean by dropping off a defence? Did the debtor show up at the court case, did they know there was a court case?
He then heard nothing about the case or the defence he had placed until the enforcement order arrived. He contacted legal aid to ask what had happened to his defence but they responded by saying thr solicitor that he had spoken to had since left and there was nobody else available to talk about the case.
He thinks, and I agree that the creditors solicitors and courts most likely contacted his legal aid solicitor who didnt inform him of the court case.
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